DB Realty said on Thursday it will issue shares at the lower end of the Rs 468-to-486 rupee (USD 10.11-USD 10.50) price band for its USD 325 million initial public offer.
The offer, which closed on Tuesday, was covered nearly 3 times, with strong demand from institutions compensating for a lack of interest from retail investors.
The share sale will amount to 13.18 % of the fully-diluted equity of the company, DB Realty said in a newspaper advertisement.
Last week, the company said it would issue shares to six anchor investors at Rs 468 rupees, raising USD 58 million from the deal.
DB is developing 19.5 million sq ft of projects, mostly in Mumbai, the country’s financial capital, and will use the proceeds to partly fund projects and repay debt.
More : moneycontrol.com
Send an E-Mail for mumbai Property Enquiry!
Related News from Mumbai
TDR rates hit the roof in Mumbai
Mumbai’s virtual reality prices (read transfer of development rights or TDR) has spiralled to its 1995 levels on the back of the current realty boom. While till six months back, TDR transactions were in the range of Rs 450 to Rs 530 per square foot, a week back the rates have jumped to Rs 700 plus per sq ft. According to the latest information available, a TDR transaction in Bandra has been completed at a rate of Rs 750 per sq ft. Confirming this Mohammed Asif, senior manager, Knight Frank, said: “For instance, in Mulund as well as
Hill Range
Hill Range is a location in Mumbai in India. If you have seen Hill Range , then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Hill Range is important to us. Please provide you comment / review / article on Hill Range in Mumbai below.
Golf Driving Range
Golf Driving Range is a location in Mumbai in India. If you have seen Golf Driving Range , then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Golf Driving Range is important to us. Please provide you comment / review / article on Golf Driving Range in Mumbai below.
Worli Shooting Range Mra
Worli Shooting Range Mra is a location in Mumbai in India. If you have seen Worli Shooting Range Mra then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about Worli Shooting Range Mra is important to us. Please provide you comment / review / article on Worli Shooting Range Mra in Mumbai below.
simplex realty
simplex realty is a location in Mumbai in India. If you have seen simplex realty then write us a review comment or your experience about this site in Mumbai. This site is to provide information to visitors to this place. Your comment about simplex realty is important to us. Please provide you comment / review / article on simplex realty in Mumbai below.